Somerville Place Inc

Analysis

Somerville Place Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in August 1997, 29 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Somerville Place Inc reported income of $88k and spending of $105k, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $84k to $88k (+4.7%), an average of +1.2% a year. Over the whole period it spent 130% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Somerville Place Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 41st percentile within MA. Charities of a similar size with the same main cause include Mother Teresa House Inc ($88k), The Ark of Decatur County Inc ($88k) and Vesta Forest Inc ($88k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $11k. At year end it held assets of $928k against liabilities of $563k, net assets of $365k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.